Back to normal or just gridlocked?

From Mansion Global:

U.S. Home Price Growth Is Back to Where It Was Pre-Pandemic

After three years of drastic price fluctuations—with values surging and then cooling down—home price growth in the U.S. is back to where it was before the pandemic, according to a report by Redfin on Tuesday. 

During the Covid pandemic, home prices increased as low mortgage rates created home-buying madness, leading the Federal Reserve to increase rates in an attempt to cool down inflation. That in turn led to a swiftly cooling real estate market, as would-be buyers eschewed those higher rates. 

Home prices increased 0.6% in February from the prior month, which was the average monthly gain recorded in the eight years before the pandemic. During the height of the pandemic, prices rose as much as 2% month over month in January 2022 and fell by as much as 0.2% in August 2022.

“There’s a mismatch between the attitudes of buyers and sellers,” said Meme Loggins, a Redfin agent in Portland, Oregon, where prices fell 0.1% in February. “I have a lot of buyers coming in expecting a huge discount. Meanwhile, I have sellers who are standing firm on how much their house is worth after seeing their friends’ homes sell for way over the asking price during the pandemic. In reality, it’s neither a buyer’s or seller’s market.”

When looking at year-over-year changes annually, home prices increased by 6.7%, comparable to the 6.9% average annual gain in the years before the pandemic hit. 

Additionally, though listings have rebounded to their highest level in 18 months, there are still not enough homes on the market to meet demand. 

“Inventory has picked up dramatically in the past two weeks, but it’s getting snatched up quickly,” Loggins said. In Nassau County, New York, home prices rose 2% on a monthly basis in February, the biggest increase among the 50 metropolitan areas analyzed in the report. Montgomery County, Pennsylvania (2%); Warren, Michigan (1.9%); Chicago (1.8%) and Indianapolis (1.6%) rounded out the top five for monthly price increases. 

The biggest month-to-month price drops were in Tampa, Florida, where they fell 0.5%, and San Antonio, Texas, which recorded a 0.4% decline.

This entry was posted in Demographics, Economics, Housing Bubble, National Real Estate. Bookmark the permalink.

138 Responses to Back to normal or just gridlocked?

  1. leftwing says:

    Firsties

  2. leftwing says:

    Reddit prices tonight.

  3. Fast Eddie says:

    “Inventory has picked up dramatically in the past two weeks, but it’s getting snatched up quickly,” Loggins said.

    Tulip bulbs about to get reduced? A rush to the exit before the retirement move to the south? Shoes about to drop? Once the word begins to trickle out, does the rubber band snap? We shall see.

  4. 3b says:

    Fed day today. And the markets are focused on if Powell will indicate that he will start cutting rates in June. If the economy appears to be doing so well, why are rate cuts needed? Is if for for commercial real estate owners to refinance their property? Is it concern for the poor/ low income who are struggling with high credit card rates and auto delinquencies? If rates are lowered does inflation start to rise again?

  5. Fast Eddie says:

    3b,

    It’s a catch-22 situation; lower rates to help pay debt and watch goods and services continue to outpace wages or stay the course? But, we’re told the economy is awesome so…? I’m sure Mr. FED Chairman will spin a tale to justify the outcome.

  6. BRT says:

    If the economy appears to be doing so well, why are rate cuts needed?

    The same reason we held them near zero for almost a decade

  7. grim says:

    Think I’m going to bail on the Reddit IPO.

    Sentiment sucks, and while I’m normally a contrarian, there is nothing from stopping this from being an epic dump-fest.

  8. Phoenix says:

    Uh oh. Now it’s the other heroes.

    Married Irish firefighter father-of-two, 37, accused of raping sleeping woman, 28, in Boston hotel after St Patrick’s Day parade while saying ‘I know you want this’: ‘Victim’ had just had consensual sex with second man in same room

  9. The Great Pumpkin says:

    I’ll take all the above…or simply stated: debt.

    3b says:
    March 20, 2024 at 8:01 am
    Fed day today. And the markets are focused on if Powell will indicate that he will start cutting rates in June. If the economy appears to be doing so well, why are rate cuts needed? Is if for for commercial real estate owners to refinance their property? Is it concern for the poor/ low income who are struggling with high credit card rates and auto delinquencies? If rates are lowered does inflation start to rise again?

  10. Phoenix says:

    Well, in his defense there ain’t much left in Weehawken to buy.

    Jared Kushner praises Gaza Strip’s ‘very valuable’ waterfront properties during talk at Harvard University

  11. Phoenix says:

    GP,

    Saw your porn yesterday. That was some raging hot porn.

    Ty.

  12. Phoenix says:

    As soon as Wall Street puts it’s money grubbing fingers on it Reddit is done.

    It didn’t need them before, it doesn’t need them now.

  13. Phoenix says:

    Guess Ben read the news. Trump said the Dems were not his friends. Time to switch teams.

    Benjamin Netanyahu will speak with GOP lawmakers in huge snub to Biden – after Joe praised Chuck Schumer calling for him to be ‘OUSTED’

  14. Phoenix says:

    A woman who lies for money. Say it isn’t so.
    A shout out again to all of the engineers and workers who made the cameras that bring truth to the world:

    A TikToker is being sued for claiming a Chicago restaurant’s bouncer ‘manhandled’ her and threw her down stairs after CCTV showed her being safely escorted out.

    Hubbard Inn, a swanky cocktail restaurant in Chicago, was put on blast by Julia Reel, 22, who claimed in a TikTok video that she was violently thrown out of the establishment by its bouncer.

    Reel alleged in her video that a bouncer pulled her from a second-floor restroom and threw her down a set of stairs shortly after midnight on March 10. She also filed a police report making the same claims.

  15. 3b says:

    BRT: I know, it’s just all the talking heads out there and their crap. Worst Fed ever.

  16. 3b says:

    Fast: Fed BS, worst Fed ever.

  17. Fast Eddie says:

    Benjamin Netanyahu will speak with GOP lawmakers in huge snub to Biden – after Joe praised Chuck Schumer calling for him to be ‘OUSTED’

    The dems want ‘peace’ because they need Michigan and they need to get some wins overall for the vegetable to be reelected. You think they care about Israelis or Palestinians? lol.

  18. SmallGovConservative says:

    3b says:
    March 19, 2024 at 9:24 pm
    “Israel is already in the West Bank…In my opinion Israel should withdraw completely, and the Jordanians can have it…”

    Not sure why you guys, in your assessment of the middle east — or Ukraine, or illegal immigration or any of the other unfolding disasters — never stop to ask why these problems did not exist under the previous prez. In the case of the Israel/Hamas war, the fact is that the West Bank+Gaza are the middle east equivalent of Haiti — places where the inhabitants have never, and will never, construct the institutions and behaviors that constitute a civil society. The difference of course, is that unlike Haiti, the riff raff that inhabit WB+G are pumped with weapons by Iran, specifically so that they can terrorize Israel. And the reason it wasn’t a problem under the last prez is because his ‘maximum pressure’ policy neutered Iran, which neutered Hamas, which allowed Israel to focus on peace and economic deals with it’s Arab neighbors.

  19. Very Stable Genius says:

    Lots going on right now to really care about this ipo.
    Walk St Bets has 10m, so they will pump it or crash. I’ll keep an eye on it but ain’t getting on it.

    grim says:
    March 20, 2024 at 8:47 am
    Think I’m going to bail on the Reddit IPO.

    Sentiment sucks, and while I’m normally a contrarian, there is nothing from stopping this from being an epic dump-

  20. Phoenix says:

    FE,
    Hadn’t thought about that. But there is always another angle to everything when it comes to money and power.

    Morals, honesty, religion, it’s all bull shite. There is no heaven, there is no hell, there are no gods.

    There is just money and power, those who have it, those who don’t.

    And Chex-Mix. 😂

  21. Very Stable Genius says:

    Murders in U.S. Fell 6 Percent in 2022 as Violent Crime Declined
    But young people make up a growing share of those dying by gun violence, which is now the leading cause of death for children in the United States.

    Oct. 16, 2023
    The number of murders in the United States dropped just over 6 percent in 2022 compared with 2021, the F.B.I. said on Monday. Experts say preliminary data for 2023 indicates that the decline has accelerated this year.

  22. Phoenix says:

    What about attempted murders? Are the people in my profession just keeping people who might have died from dying? Maybe Evarrest is the difference?

    Very Stable Genius says:
    March 20, 2024 at 9:44 am
    Murders in U.S. Fell 6 Percent in 2022 as Violent Crime Declined
    But young people make up a growing share of those dying by gun violence, which is now the leading cause of death for children in the United States.

  23. Phoenix says:

    When Trump the Dotard becomes President, and it is becoming increasingly likely, where is the money he is going to be taxing us (tariffs) on all of the things we need to buy from China (cause our THC tokers can’t make) gonna go?

    Who gets all of that stolen (tax) money?

    Time to dump some tea in Boston.

  24. Libturd says:

    Grim,

    I stayed away too. I was also offered an allotment early from SOFI. Watch it fly straight up. :P

  25. Very Stable Genius says:

    Slaughterhouse in Midwest hired 40,000 illegals.

    It means rightwingers kids with fewer job options. And lower food prices for the rest of us

  26. Phoenix says:

    Candace Owens speaks the truth.

    https://youtu.be/CO-P8TNuMIE?t=4

  27. Phoenix says:

    I’m all for cheaper food. Temu products. BYD cars. Of course you might be eating a bit of downer cow or a worker’s fingernail.

    Still better than Chex-Mix at Eddie’s house. Too many kids to compete with that are faster and younger. 😂😂

    Very Stable Genius says:
    March 20, 2024 at 10:01 am
    Slaughterhouse in Midwest hired 40,000 illegals.

    It means rightwingers kids with fewer job options. And lower food prices for the rest of us

  28. BRT says:

    Murders in U.S. Fell 6 Percent in 2022 as Violent Crime Declined
    But young people make up a growing share of those dying by gun violence, which is now the leading cause of death for children in the United States.

    Oct. 16, 2023
    The number of murders in the United States dropped just over 6 percent in 2022 compared with 2021, the F.B.I. said on Monday. Experts say preliminary data for 2023 indicates that the decline has accelerated this year.

    Compare it to 2010-2019 buddy

  29. Fast Eddie says:

    And lower food prices for the rest of us

    Explain.

  30. Phoenix says:

    Plus they aren’t spoiled and insist to WFH, a major problem when you need to fire the captive bolt into the head of of the cow whose neck you are about to sever with a sharp knife.

    “They’re very, very loyal,” Tyson human resources leader Garrett Dolan said in a statement to the outlet. “They’ve been uprooted and what they want is stability — what they want is a sense of belonging.”

    “We would like to employ another 42,000 if we could find them,” Dolan said.

  31. Phoenix says:

    Eddie,
    You shop at Wegmans. Different demographic.

    Fast Eddie says:
    March 20, 2024 at 10:11 am
    And lower food prices for the rest of us

    Explain.

  32. 3b says:

    I got a quote for $ 440.00 for brake, power steering, and coolant flush from Goodyear. Any thoughts on that price?

  33. 3b says:

    Phoenix: Trip to Aldi later for me.

  34. 3b says:

    Phoenix: Fast might shop at Wegmans, but at least he is doing his bit for the young people with providing Chex Mix for them. Very thoughtful and compassionate on his part.

  35. SmallGovConservative says:

    Very Stable Genius says:
    March 20, 2024 at 9:44 am
    “The number of murders in the United States…the F.B.I. said…”

    Ah yes, the FBI…Another once-reliable gov institution that’s been trashed by the Dems and the dangerously woke bureaucrats that now run the place. Unfortunately, and especially with the crime stat methodology change they instituted in 21 or 22, their crime stats are worse than ever, and almost useless. So no surprise that a cuck like Unstable would believe them.

    “Last year, the FBI…made significant changes to how local, county, state, tribal, and federal agencies submit their data… As a result, participation plummeted. Of the 18,000 agencies in the country, only half submitted a full year’s worth of data. Only 63 percent submitted any data at all. And so, as predicted, the 2021 crime data tells us . . . well, not much.”
    https://www.vera.org/news/yes-the-new-fbi-data-is-poor-quality-but-weve-always-needed-better

  36. Phoenix says:

    Brake, depending on the car, is more difficult now with some cars as you need a bi-directional scanner or else you should do it at home.

    I’ve never flushed a power steering system ever. Never needed to.

    Coolant, as long as they use manufacturers coolant-many different types now-you could end up with head gasket/corrosion problems.

    What is shop labor today? 200/hr? Price isn’t bad if all is done correctly. But I wouldn’t do any of that.

  37. Phoenix says:

    Tyson is hiring.

    Unilever to Cut 7,500 Jobs and Spin Off Ben & Jerry’s Ice Cream Unit
    The consumer goods giant said the moves would make for a “simpler, more focused company” as consumers trade down to cheaper brands amid high inflation.

  38. Libturd says:

    3B,

    Israel tried to control the West Bank remotely. The rockets and bus bombings just kept coming. That elaborate tunnel system is what Israel is after so the rockets can’t be hidden or transported. They are blowing up all of the tunnels. They have absolutely no interest in keeping the West Bank lands. Yes, there are some far right religious yahoos who would believe the land is Israel’s due to biblical claims. But they are generally powerless, though Bibi does play to them. I don’t think he is extending this war ONLY for personal purposes either, though it does benefit him. Like SGC’s cockamamie explanation above for why this didn’t happen under Trump, the peaceniks will look to anything to get a cease fire. Hamas will not even provide a list of the hostages who might still be alive. Let alone consider releasing them for a cease fire. Again, war sucks. Being occupied sucks. Working with Israel instead of attacking Israel is the solution to a peace. Again, I hate war. But when you are attacked, I never fault the attacked for striking back with all of their might. Israel did not govern the West Bank. Hamas did. Hamas chose warfare and terrorism over trying to create an economic model for it’s people’s prosperity. Attacking Israel like was performed was a poorly calculated decision. The lack of help of the other arab nations for anything but to arm them is also a poorly calculated decision. Iran has money. Iran has no interest in helping Palestinians economically. Let’s all hope Israel finished destroying the tunnels as quickly as possible.

  39. 3b says:

    18 year old Subaru, but only 62k miles on it. My second car, and want to keep it running. I have no desire to go out and pay for a new or late model car. I won’t waste the money.

  40. 3b says:

    Lib: I agree with you. I am saying that Israel should just pull out completely of the West Bank and Gaza (once they finish off Hamas) and turn both over to the Arab countries, and or the UN and remove themselves from the whole mess.

  41. Phoenix says:

    This is good. No need to get married if you aren’t having kids anyway.

    China’s birth rate has fallen so much that many hospitals are simply giving up on delivering babies.

    South Korea has the lowest birth rate in the world, and it continues to plummet, beating its own staggeringly low record year after year.

    In the US, the birth rate has been falling since the Great Recession, dropping almost 23 percent between 2007 and 2022.

  42. Fast Eddie says:

    …as consumers trade down to cheaper brands amid high inflation.

    Nonsense. The economy is blazing and the markets are sky high!

  43. Phoenix says:

    This problem is this.
    By accident, you killed the goat herder and his daughter. His son survives.
    Comes back to a bomb and bullet hole ridden house in rubble. Blood of his loved ones on the wall, looted, pictures broken on the floor. Family destroyed. No money, no food, no place to live.

    He hates you now. Really hates you. I guess you could try and reason with him and say it’s Hamas’s fault. And it is. But it is you that killed them.

    It won’t be forgotten. May take time, maybe years, that goat herder’s son may just seek revenge on you twenty years from now.

    3b says:
    March 20, 2024 at 10:28 am
    Lib: I agree with you. I am saying that Israel should just pull out completely of the West Bank and Gaza (once they finish off Hamas) and turn both over to the Arab countries, and or the UN and remove themselves from the whole mess.

  44. leftwing says:

    “As soon as Wall Street puts it’s money grubbing fingers on it Reddit is done. It didn’t need them before, it doesn’t need them now.”

    Welllll….if you’re burning nearly $100m of cash annually you do kinda need the money guys lol.

    Not financial advice, as I don’t give it, and moreover the data points to make a determination (where it’s priced tonight, where it opens tomorrow) aren’t known, but some thoughts…

    They haven’t upsized the offering or the price range yet, ie. no indication of excess demand from the roadshow. First tell will be where she prices tonight relative to the range (31-34).

    Institutional demand for an unprofitable, smallcap, 19 year old not-AI business with selling shareholders in this market could predictably be tepid.

    Let’s see what they do tonight. They price aggressively to management’s ego she’ll roll tomorrow, break bid, and likely present a trading opportunity. They price it in the hole, bottom end of range not below, look for where the opening bid starts and settles before the first trade tomorrow in the late morning. Could get good ST momentum from that.

    Basically, an in/out financial decision on taking shares right now is almost entirely based on how the underwriters manage the book. In other words, unknowable.

  45. Fast Eddie says:

    Fast might shop at Wegmans, but at least he is doing his bit for the young people with providing Chex Mix for them.

    Wednesday is juice day for the Gen Z crowd along with the Chex Mix. I put a table out with Juicy Juice Apple Juice boxes for the muppets and a trash can so they can dispose of the empties properly. We’re climate-friendly!

  46. Libturd says:

    That price is fair. Coolant system flush is usually only necessary if they are replacing a major component of it, like the radiator itself. In that case, you want to remove the crap left behind. Still, it shouldn’t be too costly. I’m with phoenix on the power steering flush. You can easily drain the old and replace with the new. Not sure there is any advantage of getting every last drop of the old stuff out. It’s also a once every 100K maintenance step. A brake fluid flush is a necessary maintenance item to perform. There problem with shops like Firestone, Goodyear, Midas, etc., is that until they know that you have a clue, they will try to sell you unnecessary services, like lifetime alignments, lifetime mufflers and lifetime brakes. All of these are complete bullshit. You will pay so much more for them than you would ever need without any warranties. And the lifetime only covers certain parts of the system. For example, the muffler is covered, but not the more expensive pipes and labor. So five years later, you will have to pay 80% the cost of a muffler job than you would have had to pay without the lifetime warranty. The moral of the story is, you need to find the guy who has been working at that service center for the last twenty years and establish a relationship with him. Let him know unequivocally that the only service you want is the stuff that is absolutely necessary to keep the car running. Do your regular preventative maintenance there too. The truth is, if you do everything the owner’s manual tells you to do, you will never have to do any repairs besides the shit road salt destroys. But that relationship is everything. You want him to know you and your cars by name and you should ask him about his family and do the same. You’d be surprised how far this will take you. Also, don’t hesitate to ask what might happen if you don’t do his recommended flushes.

  47. Phoenix says:

    I’d only do that at the dealer if you really want to keep it. Or someone who specializes in those particular vehicles.
    At least price the dealership before you commit. Sure they are criminals, but they are criminals with genuine parts and fluids.

    3b says:
    March 20, 2024 at 10:24 am
    18 year old Subaru, but only 62k miles on it. My second car, and want to keep it running. I have no desire to go out and pay for a new or late model car. I won’t waste the money.

  48. Phoenix says:

    LW,

    Hasn’t reddit been self sustaining for the last 15 years, or are they going broke?

    Maybe I read that wrong.

  49. Phoenix says:

    Eddie,
    They all drink Celsius now, even the little ones.

    You gonna get a juice box upside the head. Hehe.

    They little gangstas now.

  50. Very Stable Genius says:

    Looking for another 42,000

    Illegals will jump at those opportunities if rightwingers don’t move quick

    Phoenix says:
    March 20, 2024 at 10:12 am
    Plus they aren’t spoiled and insist to WFH, a major problem when you need to fire the captive bolt into the head of of the cow whose neck you are about to sever with a sharp knife.

    “They’re very, very loyal,” Tyson human resources leader Garrett Dolan said in a statement to the outlet. “They’ve been uprooted and what they want is stability — what they want is a sense of belonging.”

    “We would like to employ another 42,000 if we could find them,” Dolan said.

  51. Libturd says:

    3B, I agree. Whatever might result in peace is good with me and most likely Israel too.

    Phoenix, the Palestinians and the Israelis will never get along. The Palestinians will never accept less than all of Israel in a deal, which isn’t a deal at all. Even with the 3B solution, I doubt they will ever be peace seeking. They are poor, jealous, not terribly religious and over-populated. They will continue to exist to try to obtain all of Israel. There are no more Palestinians who knew of the old days when Palestinians could work freely outside of the occupied territories.

  52. Very Stable Genius says:

    Tyson is hiring immigrants in New York for jobs no one else wants

    Tyson is joining the nonprofit Tent Partnership for Refugees with a plan to hire some of the 181,400 migrants that have come through New York City’s intake system over the last 2 years.

    Posted March 11

    Tyson is constantly in search of workers to fill jobs in its factories – tasks like washing meat, placing the cuts into trays and doing a final inspection for bones. Dolan says the company expects about 40% of the 100,000 people in these roles will leave each year, a statistic he says is standard across the meatpacking industry. To meet this need, he said, Tyson plans to hire about 52,000 people at that wage class – which starts at $16.50 an hour, plus benefits – in 2024 alone.

    “We’re recognizing there’s not a lot of people that are going to be working labor-manufacturing jobs that are American,” Dolan said

  53. Phoenix says:

    Repubs love cheap labor as long as they can profit from it and not get caught, illegals fit the bill, even illegal children. They use the kids as roofers.

    Demcraps love them too, as they want the votes, and want to look like humanitarians and heroes to the poor.

    In the end, they are just cannon fodder, and used by both democraps and Repukes to eliminate the middle class and fatten their fingers and wallets.

  54. Libturd says:

    What the heck is Celsius. And if I hear one more kid say something is “fire.”

  55. Phoenix says:

    When is Taylor Swift gonna write a song about men who work in a slaughterhouse?

    Not even whiny Bruce Springsteen ever did that.

  56. Phoenix says:

    Libturd says:
    March 20, 2024 at 10:52 am
    What the heck is Celsius. And if I hear one more kid say something is “fire.”

    The word is “lit”

    After lit comes fire.

    And stop being so “salty” you old goat. 😂😂

  57. leftwing says:

    Phoenix, operations consumed $85m and $100m of cash in 2022 and 2023, respectively, with $400m of cash left on the balance sheet.

    Its inability to monetize operations after nearly two decades is likely the largest issue for new investors…

  58. 3b says:

    Lib: If Israel totally disengages with the Palestinian territories, the wider world will no longer be able to blame Israel for the problem. It will then be up to the Arab world to decide what they want to do.

    I don’t know what the issues are with the Arab countries, tribal society, a religion that perhaps is too rigid, and rejects the modern world? I don’t know. But, almost all the Arab countries are failed or failing states. Syria, Lebanon, Iraq. Others ruled by dictatorship or dominated by religion. It’s time for the Arab world to determine where they fit in the modern world today.

  59. Phoenix says:

    Libturd says:
    March 20, 2024 at 10:52 am
    What the heck is Celsius?

    Nothing, forget it. Don’t go near it. You are too old. Unless you have an AICD.

  60. 3b says:

    Phoenix: Dems and Repubs both like cheap illegal immigrant labor, they just don’t want to live with them. The Repubs may be more open on that, but Dems too don’t want to live with them, no matter how liberal/ progressive they claim to be.

  61. Phoenix says:

    Is it going to fold, or does it just break even? That’s the question I have. It managed to keep running, isn’t that enough if there is no IPO? Or is the whole idea behind selling it to collect it’s data for AI purposes?

    leftwing says:
    March 20, 2024 at 10:56 am
    Phoenix, operations consumed $85m and $100m of cash in 2022 and 2023, respectively, with $400m of cash left on the balance sheet.

    Its inability to monetize operations after nearly two decades is likely the largest issue for new investors…

  62. 3b says:

    Phoenix: According to Google Celsius means the sexiest of women , raises the temperature.

  63. Phoenix says:

    Yeah, sounds about right.

    3b says:
    March 20, 2024 at 11:03 am
    Phoenix: Dems and Repubs both like cheap illegal immigrant labor, they just don’t want to live with them. The Repubs may be more open on that, but Dems too don’t want to live with them, no matter how liberal/ progressive they claim to be.

    https://youtu.be/XuL8g2Szse0?t=6

  64. Phoenix says:

    Must be your algorithm. Mine comes up with this:
    htt//www.celsius.com/

    3b says:
    March 20, 2024 at 11:05 am
    Phoenix: According to Google Celsius means the sexiest of women , raises the temperature.

  65. Phoenix says:

    3b

    For you, and you only- look at the comments. Hehe.

    https://youtube.com/shorts/xhW5eyBVGNg?si=RG_cBP-HyfVpQmuU

  66. leftwing says:

    Phoenix RDDT not at risk of folding, cash burn has been declining, but until you are cash flow positive you don’t ever want to get near only 18 months of remaining cash on balance sheet because then investors will smell blood in the water, wait you out, and just pick up the assets cheaper…

    At an $80m burn and $400m cash they have some rope to run, ie. raise not necessary right now.

    I don’t follow the company but IIRC they licensed out their data to Google at a price that many thought was cheap, $60m annually?

    If your baseline social media business will be at best breakeven after a few years and the latest upside on your most valuable intangible is netting you only a $60m annuity where’s the value?

    A $60m annuity at 5% is a $1.2B value plus (or even likely minus) whatever the underlying social media business is worth….

    Last private round was at a valuation of $10B and IPO values it at $6.5B….

    Ooopsies….

  67. Phoenix says:

    LW.

    TY. That makes sense now. Not my area of expertise.

  68. Libturd & Hammerstein says:

    Tyson Swift – Close it Off

    Gonna make this country great
    Got nothing in my brain
    That’s what libturds say, mm-mm
    That’s what libturds say, mm-mm

    I lowered interest rates
    But I can’t make ’em stay
    At least that’s what Powell say, mm-mm
    That’s what Powell say, mm-mm
    But I keep winning
    Can’t stop, won’t stop tannin’
    It’s like I got this trade bill on my mind
    Sayin’ China’s not gonna fight

    ‘Cause the country’s gonna pay, pay, pay, pay, pay
    And the red team’s gonna hate, hate, hate, hate, hate (haters gonna hate)
    Illegals gonna take, take, take, take, take
    I close it off, I close it off (bor-der-wall)
    Our budgets gonna break, break, break, break, break (mmm)
    And all the news is fake, fake, fake, fake, fake (and fake and fake and fake)
    Illegals gonna take, take, take, take, take
    I close it off, I close it off (bor-der-wall)
    I close it off, I close it off

  69. Libturd says:

    My work is done here.

    BTW, I assumed Celsius was another energy drink.

  70. 3b says:

    Lib: Celsius is a hard seltzer.

  71. Fast Eddie says:

    Here’s your Celsius:

    https://tinyurl.com/5n79eyzw

  72. Boomer Remover says:

    Grim,
    I am also out of the IPO. Not in the mood to open new taxable accounts and jump through hoops. I can just yeet some zero days against a wall to see what sticks and get the same adrenaline rush.

    Somewhat related, my understanding is that you have to pay taxes at your regular tax rate on the allocated shares, and then again a capital gains tax on the sale. Just too much paperwork to be a part of retail history. I’ll always have my exchanges with u/DVF to look back on.

  73. BRT says:

    3b,

    would you say the UAE is a failed state?

  74. 3b says:

    BRT: The UAE is a small state, population under 10 million, probably half the population foreign born. No, I would not say it is a failed state, but it’s the exception. I would say Saudi Arabia is also not a failed state, but certainly s very rigid, conservative state.

  75. Phoenix says:

    Never happen in the People’s Republic of New Jersey. This is what freedom looks like.

    South Carolina Gov, Henry McMaster held a ceremony Tuesday to spotlight a new law allowing any adult who can legally own a gun to carry the weapon openly without a permit.

    McMaster signed the bill into law 12 days ago as soon as it hit his desk, allowing open carry before the ink had dried. Tuesday’s Statehouse event outside his office was a day to let everyone who pushed for the law to take a victory lap.

    “This is a happy day. It’s a good step forward,” the Republican governor said.

    The new law changes how police do their jobs. Guns can now be carried anywhere inside a vehicle — the dashboard, a seat, a cup holder, instead of it being required to be hidden in a console or glove compartment.

    Officers can no longer stop someone who is just carrying a gun and anyone carrying a concealed weapon is no longer required to tell an officer they are armed.

    Concealed weapons permits are still available, and the bill makes the training free across the state. Budget writers will have to set aside $4 million to $5 million to provide the classes in each of South Carolina’s 46 counties.

  76. 3b says:

    According to a Scandinavian report , as detailed in the New York Post, those who identify as Woke are more unhappy and depressed.

  77. Phoenix says:

    Woke is work.

    You have to relearn all of your grammar.

    It wasn’t fun learning it the first time around.

  78. Very Stable Genius says:

    You oppose people making a livable wage on the basis that your Macdonald’s burger will cost $100.

    And then you ask me to explain the relationship between labor costs and price of food.

    Get with the program man!

    Fast Eddie says:
    March 20, 2024 at 10:11 am
    And lower food prices for the rest of us

    Explain.

  79. 3b says:

    Phoenix: There may be some truth to the report. Just an observation on my part, but Woke people do appear to be miserable or unhappy, it is like everything and anyone who does not think like them is bad. Always looking for something else to be mad angry or outraged at. I think some wake up unhappy.

  80. Fast Eddie says:

    You oppose people making a livable wage on the basis that your Macdonald’s burger will cost $100.

    First, let’s define livable wage and minimum wage; are they the same thing?

  81. Juice Box says:

    re: Woke..

    Look there is or was an AI for that…

    Inflection’s main product was Pi, an AI chatbot for consumers that provided emotional support. Company raised billions too.

    It’s garbage too. Just have a conversation with it….

    https://pi.ai/talk

  82. Libturd says:

    That’s it. I’m not writing any more music!

  83. Fast Eddie says:

    Woke: Creating a cultural revolution to ensure that the haves will become as miserable as the have nots.

  84. Phoenix says:

    Well, if any of this is happening to you, then of course you are going to be unhappy about it. Rightly so.
    And if it is not, but you think it is, you are going to be unhappy cause you are a victim in your head. Not rightly so, yet it is reality to you.

    That’s it in a nutshell.

    Woke is an adjective derived from African-American Vernacular English meaning “alert to racial prejudice and discrimination”. Beginning in the 2010s, it came to encompass a broader awareness of social inequalities such as racial injustice, sexism, and denial of LGBT rights

  85. Very Stable Genius says:

    Mississippi ‘goon squad’ cop sobs as he’s sentenced to 18 years prison.

    Daniel Opdyke, 28, pleaded guilty last year to breaking into a home without a warrant and torturing two black men with a stun gun, a sex toy and other objects.

    The former Rankin County Sheriff’s deputy cried as he spoke in court in Jackson before US District Judge Tom Lee handed down the near 18-year sentence
    Former Rankin deputy Hunter Elward, 31, was given a nearly 20-year prison sentence while Jeffrey Middleton, 46, was ordered to serve almost 18 years

    Phoenix says:
    March 20, 2024 at 12:48 pm
    Never happen in the People’s Republic of New Jersey. This is what freedom looks like.

    South Carolina Gov, Henry McMaster held a ceremony Tuesday to spotlight a new law allowing any adult who can legally own a gun to carry the weapon openly without a permit.

    McMaster signed the bill into law 12 days ago as soon as it hit his desk, allowing open carry before the ink had dried. Tuesday’s Statehouse event outside his office was a day to let everyone who pushed for the law to take a victory lap.

    “This is a happy day. It’s a good step forward,” the Republican governor said.

    The new law changes how police do their jobs. Guns can now be carried anywhere inside a vehicle — the dashboard, a seat, a cup holder, instead of it being required to be hidden in a console or glove compartment.

    Officers can no longer stop someone who is just carrying a gun and anyone carrying a concealed weapon is no longer required to tell an officer they are armed.

    Concealed weapons permits are still available, and the bill makes the training free across the state. Budget writers will have to set aside $4 million to $5 million to provide the classes in each of South Carolina’s 46 counties.

  86. Fabius Maximus says:

    Is that Celsius drink a little bougie?

  87. The Great Pumpkin says:

    Damn truth….and why they are always complaining. Happy people don’t complain. They take the hand they were dealt and do the best they can with it. They don’t compare themselves to others, or what others have, because that is not what makes one happy. The direct opposite happens when you start comparing what you have to others…

    3b says:
    March 20, 2024 at 1:28 pm
    Phoenix: There may be some truth to the report. Just an observation on my part, but Woke people do appear to be miserable or unhappy, it is like everything and anyone who does not think like them is bad. Always looking for something else to be mad angry or outraged at. I think some wake up unhappy.

  88. The Great Pumpkin says:

    Pretty much. Just look at the affordable housing law. Sure, good intentions, but it is pure evil. Is this a market based economy or not? Why do some get to pay subsidized prices while others pay “market” pricing? Talk about theft. Why aren’t the woke complaining about how unfair this law is? You are literally destroying towns that some people have worked a lifetime to get into. Criminal. How a judge approved this chit is beyond me.

    Fast Eddie says:
    March 20, 2024 at 1:55 pm
    Woke: Creating a cultural revolution to ensure that the haves will become as miserable as the have nots.

  89. The Great Pumpkin says:

    Woke mindest….every town should have the projects. Everyone should live in misery and fear. I ask these fools one question. If we make all towns chit to live in, what is the motivation to better yourself and move to a nicer area? Esp when you could be low income and get in there at a cheaper price….what backwards thinking. Blows my mind.

  90. 3b says:

    Phoenix: One thing if it’s happening to you, another if you make the assumption that because it is happening to you, or so you believe, it is happening to all. And, there is real discrimination happening, and then just silliness.

    The problem is there are whites who describe themselves as Woke, who feel the need to speak for African Americans, and as many have told me , we don’t need white people to speak for us. Of course, that’s part of the problem with some Woke white people they have little to no real interactions with people they claim to speak for. You learn a lot, when you have a diverse extended family and friends network.

  91. BRT says:

    The whole premise behind wokeness was manufactured outrage. When asked to define what wokeness is, you can’t, because it’s ever evolving in search of new groups of oppressed individuals. Bill Burr said it best, they should study how the hell white women managed to hijack the woke movement.

  92. LAX says:

    3:00 don’t forget the ever popular Generational Trauma trope.

  93. Juice Box says:

    Pumps – Re: every town should have the projects..

    Your town already sold you down the River, and is allowing all those commercial properties to be converted to housing like the Toys R Us and GAF commercial properties.

    Wayne has to do its fair share. They are building what over 3,000 rental units in Wayne now. None of those should be low income?

  94. The Great Pumpkin says:

    Juice,

    Affordable housing is wrong…and I will never be for it. Let the market do the work…not politicians. Why did I work so hard to move up? For what? This law makes every hard worker a sucker.

  95. The Great Pumpkin says:

    3 rate cuts….I have a bridge to nowhere for sale if you believe that.

  96. SmallGovConservative says:

    BRT says:
    March 20, 2024 at 3:00 pm
    “The whole premise behind wokeness was manufactured outrage”

    Woke = Self-righteous, leftist score-settling. More specifically, the malignant evolution of political correctness to score-settling unleashed by Oblama and his crew.

  97. Phoenix says:

    BRT says:
    March 20, 2024 at 3:00 pm
    Bill Burr said it best, they should study how the hell white women managed to hijack the woke movement.

    Haha.

    One of the best routines ever by him. SNL monologue.

    “Gucci booted feet”. Haha.

  98. Phoenix says:

    Put people in houses. Then they aren’t homeless where the wealthy are crying fake tears about them.

  99. Phoenix says:

    The “market’ has it’s finger on the scale like the butcher. Hehe.

    Let the market do the work…not politicians.

  100. Very Stable Genius says:

    BREAKING NEWS!

    -Growth revised higher.
    -Unemployment revised lower.
    -Inflation revised up.
    -Median dot still implies 3 cuts.

    So far the Fed Chair seems totally comfortable with this = stocks rallying to fresh all-time highs.

  101. Very Stable Genius says:

    Roaring 20’s !!!

    The Great Pumpkin says:
    March 20, 2024 at 3:24 pm
    3 rate cuts….I have a bridge to nowhere for sale if you believe that.

  102. Phoenix says:

    Ukrainian women while their men are out fighting and dying.

    https://www.tiktok.com/@casstherockwillson/video/7348224937666137390

  103. Libturd says:

    “Woke = Self-righteous, leftist score-settling. More specifically, the malignant evolution of political correctness to score-settling unleashed by Oblama and his crew.”

    Clearly you are still sleeping. How did Oblama get reelected? Yup, a lot of people were woke.

    I’m still incredibly proud of our country for electing a minority and then reelecting him. Shame, women are treated worse than blacks.

  104. 3b says:

    Lib: I think America showed it has no problem voting for an African American candidate, or any other minority group. As for Obama, I voted for him the first time, but was pretty much unimpressed with his performance, and thought he was more of a divider than a uniter.

    Now of course we have too old men, neither one impressive by any means, and on top of that, one is a nut job, and the other is too old.

  105. Phoenix says:

    What woman were we supposed to vote for, this one?

    https://youtu.be/26-VzfBZg1w?t=28

  106. Libturd says:

    I would take Obama back in a minute. Heck, I would take any neocon at this point.

    I read an interesting article today from a right wing rag. The premise was that last time around, Trump played to the conservatives because it was the only way he could get anything done since that’s all there was in DC. This time Trump is going to be surrounded by people who actually buy into his populist nonsense and the Reaganomics that have been the planbook for the Republican Party are out the window. The writer even said he would probably abandon his bullshit religion bent and would probably go the dictator route he truly believes is the way. So much for the Constitution.

    Again, it’s crazy versus corruption. Take a pick.

  107. leftwing says:

    “I ask these fools one question. If we make all towns chit to live in, what is the motivation to better yourself and move to a nicer area?”

    None. And they are not fools. The outcome you describe is a feature, not a flaw. Removing personal incentive and granting individual upward advancement to the whim of those in power subjugates the entire population. Liberal game plan.

  108. leftwing says:

    “…[Trump] would probably abandon his bullshit religion bent and would probably go the dictator route he truly believes is the way. So much for the Constitution.”

    You know, I truly believe you are one of the most intelligent people on here and then you post something where it’s difficult to determine which orifice it came out of…

    Please describe how under our Constitutional Republic, specifically designed to limit the power of the executive among the three ‘equal’ branches, DJT is going to become ‘dictator’.

    Like the actual steps. How it unfolds. In detail. The road from the Presidency, SCOTUS, and Congress to Heil Trump. JFC….

    Do these idiot leftists in your feed even think before they type? You don’t need to regurgitate or fart out every thoughtless piece from them….

  109. LIBertyTURD says:

    You don’t think blanket immunity is the start of a dictatorship? You don’t think the first thing he would do after elected would be to pardon the Jan. 6th nuts? Only a dictator asks his VEEP not to certify elections.

    https://www.politico.com/news/2022/05/25/trump-expressed-support-hanging-pence-capitol-riot-jan-6-00035117

    If this isn’t the makings of a dictator, what is?

  110. Libturd says:

    And thanks for the praise. Ditto, by the way.

  111. leftwing says:

    TY.

    Again, specific steps. Not the of what he may do that offends you.

    So he pardons a bunch yahoos. That obviates SCOTUS and Congress?

    Did the non-prosecution of BLM rioters make Democrats anarchists?

    Specific steps….show me how pardons and an unfulfilled request of his VP three years ago gets him to actually disbanding the powers of Congress and SCOTUS…

  112. leftwing says:

    *not the thought of…*

  113. Boomer Remover says:

    For the record, I called for one rate hike before end of 2024.

  114. Phoenix says:

    PoPo possibly doing side work?? Rethink marriage.

    Swinger ex-cop John Biggerstaff is implicated in death of Microsoft exec Jared Bridegan, gunned down in murder-for-hire-plot for which ex-wife and two others have already been charged
    Jared Bridegan, 33, was gunned down in what police say was a murder-for-hire plot by his ex-wife, her husband and a former tenant

  115. Phoenix says:

    Teachers doing what teachers do…

    Texas high school teacher, 24, accused of having sex with up to TWELVE boys after buying them vapes and booze, is arrested after her own mother turns her in to police

  116. 3b says:

    Boomer: Still a line voice here and there that are calling for a rate hike in 2024.

  117. Grim says:

    Reddit prices at $34 – top end of the range.

    Good? Bad?

  118. Boomer Remover says:

    I guess we all gonna be rooting for RDDT to pull a SPOT.

  119. Phoenix says:

    Too much power is given to single judges in America. At minimum decisions should be made with a tribunal.

    Lawyers and former judges said they are baffled by an order issued this week by the federal judge overseeing Donald Trump’s pending trial on charges that he mishandled classified documents — and believe her instructions suggest the case will not go to trial anytime soon.

    “In my 30 years as a trial judge, I have never seen an order like this,” said Jeremy Fogel, who served on the federal bench in California and now runs the Berkeley Judicial Institute.

  120. 3b says:

    Boomer: Should be lone voice calling for rate hikes in 2024.

  121. Juice Box says:

    Grim – Pump before dump..

    They plan to use 1/2 billion for R and D? I can all but get tools to model AI from the dealer on the corner by Pump’s House..

    I would be more worried about the AI crash than Reddit’s IPO.

    We are nearly there… Pi for example???

  122. Juice Box says:

    Hype on AI folks.. crash really hard?

    I ain’t a soothsayer…….so play your cards accordingly.

  123. leftwing says:

    “Reddit prices at $34 – top end of the range. Good? Bad?”

    Can’t really tell from that lone data point.

    Couple things you do know…

    Company could have upsized the deal by 20% without refiling with the SEC so even although the underwriters feel comfortable at the top of the range they weren’t above that amount.

    There didn’t seem to be the kind of ‘buzz’ around this one that hot IPOs get. Kind of muted response actually, especially since it is the first notable name (and a household name) coming out this year. Would seem to indicate less than enthusiastic response. But that doesn’t mean it won’t support 34.

    Also, one thing you guys know better than I is the impact the redditors and retail will have here…could be substantial, either direction? What is the attitude on the subs?

    The underwriters will work toward an opening price through the morning, usually broadcast by CNBC as it moves…you’ll know that price range starting pre-market.

    Without the redditors if I were forced to guess I would say you would have the opportunity if not tomorrow then soon to buy in at/under 34 in the open market…we’ll see soon enough lol.

  124. Juice Box says:

    3B – Decades of addiction are hard to get over.

    Crap we are closing on the 20th anniversary of the ZIRP paper folks… the very idea that a goal of “zero inflation seems unwise” and yet the development of “nonstandard monetary policies near the zero bound.” are necessary.

    AKA unlimited printing will not cause inflation.

    https://www.federalreserve.gov/pubs/feds/2004/200448/200448pap.pdf

    What is ole Bernanke up to these days anyway?

  125. leftwing says:

    JB, TY on the Bernanke doc. Funny, was thinking recently as well about ‘helicopter Ben’.

    The Japanese raised rates for the first time in 17 years just yesterday I think.

  126. Phoenix says:

    ageing legislators. Hehe. WAPO article:

    “I would probably access TikTok through a virtual private network because I would be angry.

    But it’s not the real problem. The real problem is that giant companies monetize and sell our data to everyone. The real problem is that misinformation cannot be controlled on the platforms. The real problem is that it takes a whistleblower to reveal how algorithms work to our aging legislators, many of whom wouldn’t know an algorithm if it bit them on the ankle.”

  127. Juice Box says:

    Left – always appreciate your insights. I am passing too.

    I see every kid with an account pumping this. As soon as options open maybe even early as of next week you need to be out. – They lose yoy.. Private Equity owners of this soon to be stock want to cut losses.. How did they even get this far anyway? People with more money than us…..They will sell.. don’t buy.

  128. Juice Box says:

    Left – re” “Japanese”

    Don’t want to be PC here. No offence disclaimer folks.

    They along with the Koreans need to outlaw birth control.

  129. leftwing says:

    Be interesting tomorrow. There is no specific ‘retail’ seat setting the opening trade so may see some upside vol if tons of these kids pour in after open…not like it hasn’t been done before right lol.

  130. Libturd says:

    At the minimum, it’s entertaining. Have a gut feeling it flies for now. Just based on the level of discussions we’ve had about it.

  131. Libturd says:

    Once fundamentals come in to play, meaning end of first quarter, I would bet she knows dives.

  132. 3b says:

    Juice: And look where we are after this decade plus of addiction has done. Certainly not better in my view.

  133. Fabius Maximus says:

    That Impeachment meeting today was fire. A dumpster fire for the GOP.

    “Please describe how under our Constitutional Republic, specifically designed to limit the power of the executive among the three ‘equal’ branches, DJT is going to become ‘dictator’.”

    When they tell you what they are, believe them. They have a whole plan laid out to subvert the constitution.

    Republican Voters Against Trump @AccountableGOP
    Sen. Romney: “When former President Trump said we should set aside the Constitution and reappoint him as president, you had Republicans cheer that…How can you believe you’re following the Constitution if that’s the case?”
    https://twitter.com/AccountableGOP/status/1770540888877318410

  134. Phoenix says:

    Darwin Award winner. Money doesn’t give you brains.

    Mitch McConnell’s billionaire sister-in-law was THREE TIMES over drinking limit when she reversed her Tesla into a Texas pond and died, police say

  135. Phoenix says:

    Say it isn’t so. I thought it was #believeallwomen.

    Spine-chilling moment cops catch Ohio mother LYING about finding her 16-month-old baby dead – when she’d left her to rot in her play pen for TEN DAYS while she vacationed in Puerto Rico

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